Common use of NON-PETITION UNDERTAKING OF BENEFICIARIES Clause in Contracts

NON-PETITION UNDERTAKING OF BENEFICIARIES. (a) It is a condition of the Receivables Trust (which by the execution of a Supplement or an Accession Notice by a Beneficiary, such Beneficiary consents and confirms) that each Beneficiary of the Receivables Trust undertakes to the Receivables Trustee for the benefit of itself and as trustee for each other Beneficiary that: (i) it will not take any corporate action or other steps or legal proceedings for the winding up, dissolution or re-organisation or for the appointment of a receiver, administrator, administrative receiver, trustee, liquidator, sequestrator or similar officer of any Investor Beneficiary (unless specified otherwise in relation to such Investor Beneficiary), the Receivables Trustee or any successor trustee or the Receivables Trust or of any or all of the revenues and assets of any of them nor participate in any ex parte proceedings nor seek to enforce any judgment against any of such persons; (ii) the obligations of the Receivables Trustee under this Deed at any time are limited to the lesser, at such time, of (a) the nominal amount thereof (the "NOMINAL AMOUNT") and (b) an amount (the "AVAILABLE AMOUNT") equivalent to the value of the Trust Property at such time. No Beneficiary shall have a right to have recourse to, or make demand or initiate proceedings against the Receivables Trustee at any time whilst the nominal amount exceeds the available amount. The Receivables Trustee shall incur no liability and be under no additional duty to any person solely as a result of any inability on its part to make payments or to perform other obligations under this Deed, which inability results from the operation of the foregoing provisions of this Clause 3.4(a)(ii); and (iii) it shall have no recourse, in respect of any obligation, covenant or agreement of the Receivables Trustee, against any shareholder, officer, agent or director of the Receivables Trustee.

NON-PETITION UNDERTAKING OF BENEFICIARIES. (a) It is a condition of the Receivables Trust (to which by the execution of a Supplement or an Accession Notice by a Beneficiary, such Beneficiary consents and confirms) that each Beneficiary of the Receivables Trust undertakes to the Receivables Trustee for the benefit of itself and as trustee for each other Beneficiary that: (ia) it will not take any corporate action or other steps or legal proceedings for the winding up, dissolution or re-organisation or for the appointment of a receiver, administrator, administrative receiver, trustee, liquidator, sequestrator or similar officer of any Investor Beneficiary (unless specified otherwise in relation to such Investor Beneficiary), the Receivables Trustee or any successor trustee or the Receivables Trust or of any or all of the revenues and assets of any of them nor in relation to an Investor Beneficiary participate in any ex parte proceedings nor seek to enforce any judgment judgement against any of such persons; (iib) the obligations of the Receivables Trustee under this Deed at any time are limited to the lesser, at such time, of (ai) the nominal amount thereof (the "NOMINAL AMOUNT") and (bii) an amount (the "AVAILABLE AMOUNT") equivalent to the value of the Trust Property at such time. No Beneficiary shall have a right to have recourse to, or make demand or initiate proceedings against the Receivables Trustee at any time whilst the nominal amount exceeds the available amount. The Receivables Trustee shall incur no liability and be under no additional duty to any person solely as a result of any inability on its part to make payments or to perform other obligations under this Deed, which inability results from the operation of the foregoing provisions of this Clause 3.4(a)(ii)4.9; and (iiic) it shall have no recourse, in respect of any obligation, covenant or agreement of the Receivables Trustee, against any shareholder, officer, agent or director of the Receivables Trustee.

NON-PETITION UNDERTAKING OF BENEFICIARIES. (a) It is a condition of the Delamare Cards Receivables Trust (to which by the execution of a Trust Supplement or an Accession Notice by a Beneficiary, such Beneficiary consents and confirms) that each Beneficiary of the Delamare Cards Receivables Trust undertakes to the Receivables Trustee for the benefit of itself and as trustee for each other Beneficiary that: (ia) it will not take any corporate action or other steps or legal proceedings for the winding up, dissolution or re-organisation or for the appointment of a receiver, administrator, administrative receiver, trustee, liquidator, sequestrator or similar officer of any Investor Beneficiary (unless specified otherwise in relation to such Investor BeneficiaryBeneficiary in the relevant Trust Supplement), the Receivables Trustee or any successor trustee or of the Delamare Cards Receivables Trust or of any or all of the revenues and assets of any of them nor in relation to an Investor Beneficiary, participate in any ex parte proceedings nor or seek to enforce any judgment against any of such persons; (iib) the obligations of the Receivables Trustee under this Deed at any time are limited to the lesser, at such time, of (ai) the nominal amount thereof (the "NOMINAL AMOUNT"nominal amount) and (bii) an amount (the "AVAILABLE AMOUNT"available amount) equivalent to, in the case of obligations owed to TPF in any capacity, the value of the Trust Property Transferor Interest at such time and, in the case of obligations owed to the Investor Beneficiary, the value of that Investor Beneficiary's Aggregate Investor Interest at such time. No Beneficiary shall have a right to have recourse to, or make demand or initiate proceedings against the Receivables Trustee at any time whilst the nominal amount exceeds the available amount. The Receivables Trustee shall incur no liability and be under no additional duty to any person solely as a result of any inability on its part to make payments or to perform other obligations under this Deed, which inability results from the operation of the foregoing provisions of this Clause 3.4(a)(ii)4.8; and (iiic) it shall have no recourse, in respect of any obligation, covenant or agreement of the Receivables Trustee, against any shareholder, officer, agent or director of the Receivables Trustee.

NON-PETITION UNDERTAKING OF BENEFICIARIES. (a) It is a condition of the Receivables Trust (which by the execution of a Supplement or an Accession Notice by a Beneficiary, such Beneficiary consents and confirms) that each Beneficiary of the Receivables Trust undertakes to the Receivables Trustee for the benefit of itself and as trustee for each other Beneficiary that: (ia) it will not take any corporate action or other steps or legal proceedings for the winding up, dissolution or re-organisation or for the appointment of a receiver, administrator, administrative receiver, trustee, liquidator, sequestrator or similar officer of any Investor Beneficiary (unless specified otherwise in relation to such Investor BeneficiaryBeneficiary in the relevant Supplement), the Receivables Trustee or any successor trustee or of the Receivables Trust or of any or all of the revenues and assets of any of them nor nor, in relation to an Investor Beneficiary, participate in any ex parte proceedings nor or seek to enforce any judgment against any of such personsperson; (iib) the obligations of the Receivables Trustee under this Deed at any time are limited to the lesser, at such time, of (a) the nominal amount thereof (the "NOMINAL AMOUNTnominal amount") and (b) an amount (the "AVAILABLE AMOUNTavailable amount") equivalent to, in the case of obligations owed to COBE in any capacity, the value of the Trust Property Transferor Interest at such time and, in the case of obligations owed to an Investor Beneficiary, the value of that Investor Beneficiary's Aggregate Investor Interest at such time. No Beneficiary shall have a right to have recourse to, or make demand or initiate proceedings against the Receivables Trustee at any time whilst the nominal amount exceeds the available amount. The Receivables Trustee shall incur no liability and be under no additional duty to any person solely as a result of any inability on its part to make payments or to perform other obligations under this Deed, which inability results from the operation of the foregoing provisions of this Clause 3.4(a)(ii)4.8; and (iiic) it shall have no recourse, in respect of any obligation, covenant or agreement of the Receivables Trustee, against any shareholder, officer, agent or director of the Receivables Trustee.

NON-PETITION UNDERTAKING OF BENEFICIARIES. (a) It is a condition of the Receivables Trust (which to which, by the execution of a this Deed and/or any Supplement or an Accession Notice by a Beneficiary, such Beneficiary consents and confirms) that each Beneficiary of the Receivables Trust undertakes to the Receivables Trustee for the benefit of itself and as trustee for each other Beneficiary that: (ia) it will not take any corporate action or other steps or legal proceedings seeking a declaration of désastre in respect of the property, or for the winding up, dissolution or re-organisation organisation, or for the appointment of a receiver, administrator, administrative receiver, bankruptcy official, trustee, liquidator, sequestrator or similar officer officer, of any Investor Beneficiary (unless specified otherwise in relation to such Investor BeneficiaryBeneficiary in the relevant Supplement), the Receivables Trustee or any successor trustee or of the Receivables Trust Trust, or of any or all of the revenues and assets of any of them nor them, nor, in relation to an Investor Beneficiary, participate in any ex parte proceedings nor or seek to enforce any judgment against any of such persons; (iib) the obligations of the Receivables Trustee under this Deed at any time are limited to the lesser, at such time, of (ai) the nominal amount thereof (the "NOMINAL AMOUNTnominal amount") and (bii) an amount (the "AVAILABLE AMOUNTavailable amount") equivalent to, in the case of obligations owed to the Transferor Beneficiary, the value of the Trust Property Transferor Interest at such time and, in the case of obligations owed to an Investor Beneficiary, the value of that Investor Beneficiary's Aggregate Investor Interest at such time. No Beneficiary shall have a right to have recourse to, or make demand or initiate proceedings against the Receivables Trustee at any time whilst for the excess of the nominal amount exceeds over the available amount. The Receivables Trustee shall incur no liability and be under no additional duty to any person solely as a result of any inability on its part to make payments or to perform other obligations under this Deed, which inability results from the operation of the foregoing provisions of this Clause 3.4(a)(ii)5.7; and (iiic) it shall have no recourse, in respect of any obligation, covenant or agreement of the Receivables Trustee, against any shareholder, officer, agent or director of the Receivables Trustee.

NON-PETITION UNDERTAKING OF BENEFICIARIES. (a) It is a condition of the Receivables Trust (which by the execution of a Supplement or an Accession Notice by a Beneficiary, such Beneficiary consents and confirms) that each Beneficiary of the Receivables Trust undertakes to the Receivables Trustee for the benefit of itself and as trustee for each other Beneficiary that: (ia) it will not take any corporate action or other steps or legal proceedings for the winding up, dissolution or re-organisation or for the appointment of a receiver, administrator, administrative receiver, trustee, liquidator, sequestrator or similar officer of any the Investor Beneficiary (unless specified otherwise in relation to such Investor BeneficiaryBeneficiary in the relevant Supplement), the Receivables Trustee or any successor trustee or of the Receivables Trust or of any or all of nor, in relation to the revenues and assets of any of them nor Investor Beneficiary, participate in any ex parte proceedings nor or seek to enforce any judgment against any of such personsperson; (iib) the obligations of the Receivables Trustee under this Deed at any time are limited to the lesser, at such time, of (a) the nominal amount thereof (the "NOMINAL AMOUNT") and (b) an amount (the "AVAILABLE AMOUNT") equivalent to, in the case of obligations owed to HSBC Bank plc in any capacity, the value of the Trust Property Transferor Interest at such time and, in the case of obligations owed to the Investor Beneficiary, the value of that Investor Beneficiary's Aggregate Investor Interest at such time. No Beneficiary shall have a right to have recourse to, or make demand or initiate proceedings against the Receivables Trustee at any time whilst the nominal amount exceeds the available amount. The Receivables Trustee shall incur no liability and be under no additional duty to any person solely as a result of any inability on its part to make payments or to perform other obligations under this Deed, which inability results from the operation of the foregoing provisions of this Clause 3.4(a)(ii)4.8; and (iiic) it shall have no recourse, in respect of any obligation, covenant or agreement of the Receivables Trustee, against any shareholder, officer, agent or director of the Receivables Trustee.